Information and Social Networks in Village Economies

Arya Gaduh

No WPE063, CSIS Economics Working Paper Series from Centre for Strategic and International Studies, Jakarta, Indonesia

Abstract: This paper is a two-part survey of the literature on social learning in a network, with the first section on social learning and the second on network structures and formation. In the first part of this paper, we observe that, without intervention, social learning in a homogeneous population is likely to lead to optimal actions in the long run if individuals can revise their choices upon observing payoffs. The second part discusses some of the theoretical results on network formation. The second part concludes with a discussion on necessary refinements to the theory to allow more realistic description of economic agency in a network.

Keywords: social learning; rural economy; network formation; development microeconomics (search for similar items in EconPapers)
JEL-codes: D83 (search for similar items in EconPapers)
Date: 2002-07
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